Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
Leaders of the G20 developed and emerging countries should not backtrack on their agreement last year to fight protectionism when they meet in London in April, the head of the World Trade Organization said on Wednesday.
On a snowy hillside in rural southwest Pennsylvania, Larry Grimm drives his truck up a steep gravel track to a hilltop reservoir surrounded by orange plastic fencing and keep out signs.
Tougher green rules coupled with the economic downturn could dim the currently stable outlook of U.S. public power electric utilities, Moody's Investors Service said in a report on Tuesday.
President Barack Obama on Tuesday called on Congress to send him legislation that places a market-based cap on U.S. carbon polluting emissions and pushes the production of more renewable energy.
The chief executives of Live Nation and Ticketmaster got a skeptical reception on Capitol Hill on Tuesday, with a leading lawmaker pressing Ticketmaster to sell a reselling subsidiary.
The threat of protectionism just won't lie down, despite repeated promises of political leaders to refrain from raising barriers to trade.
Oil shed on Wednesday some of the previous session's 4 percent gains but held above $39, after President Obama balanced his message of hope for the U.S. economy with a warning and ahead of data on U.S. oil stocks.
Obama told Congress the United States would emerge stronger from its deepest economic slump in decades but said America faced a day of reckoning for its past excesses.
The preside...
President Barack Obama tidied up his economic message on Tuesday, reviving the hopeful Yes We Can spirit of his campaign and abandoning the Maybe We Can't impression he took to the White House.
American International Group Inc may scrap a plan to repay a $60 billion U.S. government loan by selling businesses, after failing to find enough promising bidders, Bloomberg said, citing people with knowledge of the matter.
Citigroup may sell both its Japanese investment bank and brokerage, according to media reports, as the faltering U.S. lender looks to raise more cash from a sale of global assets.
President Barack Obama struck a balance between grim economic reality and a more hopeful outlook on Tuesday to try to reassure worried Americans their country will emerge from crisis stronger than before.
ECONOMIC DATA 02/25/2009: all times EST. 10:00 AM US EXISTING HOME SALES (4.80 MILLION). 10:30 AM EIA INVENTORY
Federal Reserve Chairman Ben Bernanke warned on Tuesday the severe U.S. recession could drag into next year, but said banks should be able to weather the downturn without being nationalized, cheering markets.
Amid a time of crisis for the financial industry, shareholders of BB&T Corp., one of the largest U.S. regional banks, will continue to see steady dividend payments for fourth straight quarter although payout growth is slowing compared to previous years.
Governments around the world have committed more than $200 billion to support renewable energy initiatives despite of the economic downturn, according to a Deutsche Bank analysis released Tuesday.
Australian Dollar: The Australian Dollar opens higher today at US65 cents having traded between a low of 0.6388 and a high of 0.6525 over the last 24 hours.
Bank of America Corp Chief Executive Kenneth Lewis said the largest U.S. bank does not need more federal aid and is in better shape than most rivals, even as rumors, innuendo and falsehoods cause its stock to fall.
An Obama administration task force is carefully analyzing restructuring plans of General Motors Corp and Chrysler LLC , but bankruptcy is not the panel's goal, a U.S. senator said on Tuesday.
Democrat Carl Levin of Michigan met with task force members this week on the turnaround plans submitted by GM and Chrysler that include a request for $22 billion more in bailout m...
is down more than 50 percent or about $10 trillion.
Bernanke warned on Tuesday the severe U.S. recession may drag into 2010 unless the government succeeds in stabilizing the banking system and financial markets with strong action.
Wall Street's fat cats are in the public's doghouse, and it could be a long time -- if ever -- before the eye-popping paychecks and glamour of the last two decades return.
Four soldiers with U.S.-led coalition forces and an Afghan civilian working for them were killed in southern Afghanistan on Tuesday when their vehicle struck a roadside bomb, the U.S. military said.
